Stocks: Bull taking a breather

  @CNNMoneyInvest March 12, 2013: 8:31 AM ET
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NEW YORK (CNNMoney)

U.S. stocks may pause Tuesday in the absence of fresh catalysts to extend a recent record-setting run.

U.S. stock futures were modestly lower ahead of the open.

Stocks have been supported by better-than-expected economic data and signs the Federal Reserve will keep its stimulus policies in place for some time.

All three major U.S. indexes are up between 9% and 10% so far this year.

Analysts say a pullback at this stage shouldn't come as much of a surprise and should be considered healthy.

Related: The other Dow record: Dividends

Meanwhile, in the continuing saga of Washington's budget wars, House Budget Committee Chairman Paul Ryan will release his budget proposal Tuesday.

The U.S. Treasury Department will also release data on tax and revenue collection and federal spending in February later in the day.

U.S. stocks continued their record run Monday. The Dow Jones industrial average climbed 0.3%, closing at a record high for the fifth consecutive day.

Bulk retailer Costco (COST, Fortune 500) shares rose after announced better-than-expected earnings for its fiscal second quarter early Tuesday, although the revenue increase came in short of forecasts.

Yum Brands (YUM, Fortune 500) shares rose in premarket trading after the company -- which owns Taco Bell, KFC and Pizza Hut brands -- reported a smaller-than-expected drop in same-store sales at its China locations.

Shares of Cabela (CAB) spiked after the sporting goods retailer issued strong guidance.

Urban Outfitters (URBN) shares fell early after the company reported earnings just short of analysts' forecasts for the third time in the last five quarters.

Best Buy (BBY, Fortune 500) shares were also higher in premarket trading after Goldman Sachs resumed coverage of the stock with a buy recommendation early Tuesday.

Apple (AAPL, Fortune 500) shares edged lower after a late-day spike Monday.

Related: Fear & Greed Index in extreme greed

European markets were little changed in morning trading, while Asian markets ended weaker. Chinese stocks fell by about 1% while Japan's Nikkei ended down 0.3%. To top of page



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Nasdaq 4,086.23 52.06 1.29%
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Company Price Change % Change
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Alcoa Inc 13.42 0.37 2.84%
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